Dhaka, Bangladesh (BBN) - The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Rescheduled loans jump in Q2
Banks went on a loan rescheduling spree once again in the second quarter of 2018 after holding back in the first quarter. Between the months of April and June, default loans amounting to Tk 5,879 crore were rescheduled, in contrast to Tk 1,458 crore three months earlier, according to data from the central bank.
Petrobangla seeks Tk 54b fiscal support to foot bill
State-run Petrobangla has sought fiscal support worth around Tk 54 billion to purchase LNG from global suppliers during the current fiscal year until June 2019 as gas price has not been hiked yet. "We sent a proposal to the ministry of finance (MoF) last week through the ministry of power, energy and mineral resources (MPEMR) for the fiscal support to foot LNG import bills," Petrobangla director of finance Md Towhid Hasanat Khan told the FE on Monday.
Banks allowed holding foreign loan collaterals directly
Bangladesh’s commercial banks are now allowed to hold collaterals on behalf of the non-resident lenders against external loans, availed by the state agencies, without prior approval from Bangladesh Bank (BB). The central bank of Bangladesh has taken the measures aiming to facilitate such transactions, a BB senior official explained.
Savings certificate sales ‘pushing up’ govt debt burden
High yields on national savings instruments is encouraging a large number of small investors and pushing up the government's debt burden, analysts have said. Officials at the Directorate of National Savings Certificates said a “striking difference” in the interest rates on offer has been encouraging people to move their money from banks to savings certificates.
Bay Terminal project should get top priority
Business leaders based in Chattogram yesterday urged the government to give top priority to the Bay Terminal construction project to enhance the port's capacity to cope with spiralling foreign trade. Once constructed, the terminal with three times more space compared to Chittagong port would also be able to serve the neighbouring countries, including the north-eastern states of India, they opined. The country's overall economic development mostly lies on the development of Chattogram, they said.
GP network disrupted as fibre cable severed
Network of the leading mobile phone operator Grameenphone faced disruption on Monday due to cut in fibre cable in two areas in Dhaka for government’s development activities, including metro rail network construction. Many subscribers of GP faced problem in making calls to users other operators, while customers of other operators faced difficulty in making calls to GP.
BD, KSA to sign MoUs on defence cooperation, ICT
Bangladesh will sign a memorandum of understanding (MoU) on defence cooperation with Kingdom of Saudi Arabia (KSA) during Prime Minister (PM) Sheikh Hasina's visit to the country. The prime minister is scheduled to leave for KSA today (Tuesday afternoon) on a four-day visit.
BGMEA president: Implementation of new wage structure a major challenge
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday said that the implementation of the new wage structure for apparel workers would be a major challenge for the sector,and may lead to the closure of a number ofreadymade garment (RMG) units. “For us, it is a major challenge to implement the new wage structure. Buyers, workers, the government, and other stakeholders have to come forward and work together to this end,” Md Siddiqur Rahman, president BGMEA said at a press conference at his office in Dhaka.
BBN/SSR/AD